INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 355 - Research and Development  

Subdivision 355-E - Notional deductions for decline in value of depreciating assets used for R & D activities  

SECTION 355-300   What this Subdivision is about  


An R & D entity can notionally deduct the decline in value of a tangible depreciating asset used for R & D activities.

If a balancing adjustment event later happens for the asset, the R & D entity may be able to notionally deduct a further amount. Alternatively, an amount may be included in the R & D entity's assessable income.


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